Penny Hardaway said Monday in Tampa that he put $2.6 million of his own money into Memphis’ revenue sharing for the 2026-27 season, part of a total package he said sits at $9 million.
At American Conference Media Day, Hardaway told the Commercial Appeal that the Tigers pushed him to get in on the spending if he wanted more resources for the roster.
"They didn't ask me to do it, they were saying if you want more money, you have to put your money in. So I did," Hardaway told Jason Munz of the Commercial Appeal.
"I didn't want to fail two years in a row, because I already know what that means for me. Because it's already like the death sentence for me from so many different people, which is hilarious."
Memphis is coming off a 13-19 season and an 8-10 mark in the American, a finish that kept the Tigers out of the NCAA Tournament for the first time since 2024. The setback added pressure around Hardaway, who had previously taken Memphis to three NCAA Tournament appearances in four seasons before the program’s lowest win total in a single year since the 1999-00 campaign.
The Tigers spent the offseason reshaping the roster, bringing in nine transfers. That group includes Pitt guard Brandin Cummings and Washington State forward Rihard Vavers. Memphis also added four-star guard Fred Smith Jr., who was ranked No. 97 in the 2026 recruiting cycle by 247Sports.
Hardaway’s move fits a growing trend in college basketball, where coaches are increasingly tying their own money to roster-building. DePaul coach Chris Holtmann said at Big East Media Day that he accepted a lower salary in his contract extension so more money could be directed toward revenue sharing.
"Let's change the last couple of years, really for Years 5, 6 and 7, let's change the structure of the contract where I'm making less money," Holtmann said. "I think for me the most important thing is being competitive and in order to be competitive, we need to raise NIL. ...
It was pretty significant that I did that. I told my agent I did it and the AD had agreed to it, and he goes, 'What are you doing?'"
In Other News...
Clemsons Guard Depth Takes Another Hit With Zac Foster Down Again
Clemsons backcourt depth took another blow in mid-October when sophomore guard Zac Foster learned the knee he had already rehabbed had suffered a second ACL tear. The injury was confirmed by an MRI on Oct. 12, leaving the Tigers without a timetable for his return and forcing the staff to account for another lost piece before the season even settles in.
Brad Brownell has made clear Foster remains part of the programs daily fabric despite the setback, and the guards continued involvement around the team matters for a group that has already had to adjust its plans. For Clemson, the challenge now is not just replacing minutes, but managing a rotation that was supposed to lean on Fosters development and instead has to keep moving without knowing when, or how soon, he can get back. [Read more 🡒]
Clemsons Thinned D-Line Could Finally Get A Needed Boost
A long wait on Clemsons defensive front may be nearing an end. Defensive tackle Kourtney Kelly, who tore his ACL in March, is expected to make his season debut against Charleston Southern, and Dabo Swinney said Kelly has already been taking part in competitive practice work. He is also listed as a backup on the depth chart, a sign that the Tigers are at least preparing to work him back into the mix.
For a defensive line that has had to absorb injuries and departures, Kellys return comes at a useful time. Clemson has leaned on its depth more than planned, and getting another body back inside should help ease some of that pressure as the season moves forward. Whether Kelly is ready to immediately reclaim a major role is still a separate question, but simply having him available again gives the Tigers another needed option up front. [Read more 🡒]
Clemsons Backcourt Just Took A Brutal Hit Again
Clemsons backcourt has been hit with another tough blow, as sophomore guard Zac Foster tore his ACL again and is likely done for the season. It is a painful repeat for Foster, who was already sidelined by the same injury during his freshman year, leaving the Tigers to adjust once more around a guard rotation that had hoped to gain stability with his return.
Brad Brownell and Foster both addressed the setback in statements, reflecting the disappointment that comes with another lengthy recovery for a player still trying to get his college career moving in the right direction. For Clemson, the concern now is less about one lost piece than about how to keep the backcourt intact after losing a player who was expected to help deepen it. [Read more 🡒]